Beyond Meat (BYND, Financial) experienced a significant stock movement with a 5.00% drop in its share price. The stock is currently priced at $6.08 per share, with a trading volume of 1.347 million shares and a turnover rate of 2.07%, highlighting a price fluctuation of 4.84%.
The latest financial report revealed that Beyond Meat incurred a net loss of $34.48 million on revenue of $93.19 million, resulting in an earnings per share (EPS) of -$0.53. The company's gross profit stood at $13.02 million, with a price-to-earnings (P/E) ratio of -1.25. Among analysts covering the stock, 58% recommended holding, 42% advised selling, and none advised buying.
In the packaging foods industry where Beyond Meat operates, the sector saw an overall decline of 0.53%. However, certain stocks like Agrify Corp, Arcadia Biosciences, and Steakholder Foods Ltd showed notable gains. Active stocks included Agrify Corp, Blue Star Foods Corp., and Nuzee, Inc., with turnover rates of 231.42%, 39.08%, and 31.64%, respectively. Agrify Corp, Above Food Ingredients Inc, and Australian Oilseeds Holdings Limited showed substantial volatility, with swings of 63.79%, 30.25%, and 29.27%.
Beyond Meat specializes in plant-based meat alternatives, offering products such as burgers, sausages, ground beef, jerky, meatballs, and chicken. The company aims to replicate the taste and texture of animal-based meats while providing nutritional and environmental benefits. Its revenue is mainly derived from sales in grocery stores, club stores, convenience stores, and foodservice channels, primarily in the U.S.
